Walmart CEO: eCommerce sales will hit USD10bn

According to All Things D, Walmart CEO Mike Duke has announced that the company’s eCommerce sales are expected to hit USD10bn this fiscal year. The comment was made at Walmart’s shareholder meeting last Friday.

Although this figure represents a small portion of overall sales – which totalled USD469bn in 2012 – the number has been boosted by the company’s purchase of Chinese online retailer Yihaodian. Initial eCommerce predictions were around the USD9bn mark.

The company’s acquisitions and strategic focus on eCommerce conveys the growing onus retailers are placing on this revenue channel.

Related reading

Agents need to be aware of new types of fraud and understand how to reduce their incidence and impact. If they don’t, they could find themselves outsmarted and out of pocket. By Anthony Hynes, Managing Director and CEO, eNett International.

In a world where nearly everyone is buying and selling on a mobile device, how on earth do you make sense of all the noise, clutter and blurring of spaces and faces? The excitement of the mobile age comes with its problems – one of the worst being fraud. By Stephen Ufford, CEO, Trulioo.

Traditionally, the banking industry has often struggled to make quick technical advancements so in some cases it is unsurprising that older systems are holding them back. By Kyle Ferguson, Chief Executive Officer, Fraedom.

In a world where nearly everyone is buying and selling on a mobile device, how on earth do you make sense of all the noise, clutter and blurring of spaces and faces? The excitement of the mobile age comes with its problems – one of the worst being fraud. By Stephen Ufford, CEO, Trulioo.